BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Housing Development Finance Corporation Ltd.’s asset quality improved as gross stage-III assets stood at 2.1% versus 2.3% QoQ led by non-individual portfolio.
Restructured assets remain stable at 0.8% of assets under management. Disbursements for individual loan segment grew by 66% YoY in Q1 FY23; Q1 disbursements highest ever in a year.
HDFC's AUM growth improved to 17% YoY (15% YoY FY22) led by individual portfolio. Profit after tax grew by 22% YoY led by lower provisions (down 25% YoY).
Net interest income grew slowly at 8% YoY due to decline in net interest margins at 3.4% (down 30 basis points YoY) while pre-provision operating profit grew by 11% YoY. Provisions stood at Rs 133.3 billion higher than regulatory requirement.
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